True Sky Federal Credit Union Overdraft Privilege
Balance A Little Low? True Sky Federal Credit Union Has You Covered
With True Sky Federal Credit Union’s Overdraft Privilege, you will have added peace of mind that your purchases will be covered even if funds aren’t available.
True Sky Federal Credit Union has improved our Overdraft Privilege to better ensure our overdraft privilege is customized to meet individual member checking account needs. As part of these improvements, the overdraft limit for members will no longer be a fixed amount; instead, it will change daily as a result of several factors including the age of the account and the amount/frequency of deposits.
What Is Overdraft Privilege?
Overdraft Privilege prevents the rejection of charges to your bank account that exceed your account balance by automatically transferring funds to your checking account from our own account. In other words, we loan you the necessary funds and you are responsible for paying us back. Overdraft Privilege is sometimes referred to as cash-reserve checking and primarily protects checks, ATM transactions, and debit-card charges.
What’s Covered With Overdraft?
We Offer Two Different Types Of Overdraft Privilege
Overdraft Privilege (Opted-Out)
Standard Overdraft Privilege will be automatically in place for ACH transfers and checks as well as automatic bill payments and recurring Debit Card transactions (subscriptions, memberships, etc.)
Overdraft Privilege (Opted-In)
Opting-in to Overdraft Privilege offers all the features of Standard Overdraft Privilege with additional protection on:
- ATM transactions
- Debit card transactions
*We pay overdrafts at our discretion, which means we do not guarantee that we will always
authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
Repaying Your Overdraft Balance
- You have up to 30 days to repay your overdraft balance before your account is closed.
- If you are unable to pay off the balance within that time we can discuss setting up a repayment plan (account must be overdrawn for 20 days before repayment terms can be discussed).
Signing Up For Overdraft Privilege Is Easy!
You can opt-in for increased overdraft privilege by completing the form below, visiting a branch, or contacting us at 405-682-1990.
*Please fill in all contact information below so a representative can reach out to you to gather the required signed document to update your checking account to reflect opted-in status or opted-out status.